Quote Originally Posted by secorp View Post
I wonder if the GST tax in Canada is the same as the value added tax the socialists were pushing for here in the US.

Thanks for the info Printer even with a GST that puts you at less than the 28 percent tax on a guy making 40K here in the US. Now the 28 percent is total Federal taxes, that does not include state taxes. my state has no state tax.

The US funds billions if not over a trillion in pork grants and subsidies like ethanol, school loans, welfare and a thousand other programs. the US is the worst country at tax and spend. the last bill they just passed had 800 billion of pork in it. that alone is probably Canada's GDP for a year.

I know Canada's banking system has a lot fewer banks then the US has with stricter controls (thousands fewer). Last count the US had over 8,000 banks. I think that is one reason Canada and Australia came through the financial crisis with no bail outs. I still would not want to live in Canada, nor would they want me too. I like to much having every known food to man being delivered to my door and a bank on every corner, God bless the ol USA. may she rest in peace.
Getting close, Canada's GDP is about $1.62 Trillion this year. The Value Added Tax, as it is called in Europe, like ours is a way to tax how much you consume as a member of society. While we do have a program that gives a refund to people that are below a given income level it generally treats people evenly in taxing everyone at the same rate.

The guy making $50k is paying the same rate as the guy making $250k. One guy buys an inexpensive car, the other a car with an insurance premium that costs what the first guy's car costs. But they are both paying 5% GST. Funny it is the socialists that are pushing it there as it is to the advantage of the rich guy. If the government was making up the money through income taxes, the guy making the $250k would be paying a progressively higher rate according to how much he makes. We do have a provincial counterpart that does not have any sales tax, Alberta.

While we do have fewer banks it was not the local banks that you have so many of that caused the financial trouble. It was the really big players, the ones that were 'too big to fail'. We had some consolidation of banks here also and the bankers wanted to merge some more using the US example of you have to be real big to compete in the world. Our government said no thanks, you are doing well enough as it is. The reason our banks came out ok is because they were more conservative in their lending practices and the excess money lent out in the US inflating house prices did not happen here. They kept more cash on hand (cash in hand does not make you money). A few more details involved but that pretty much sums it up.

As far as food is concerned you probably would not be short of cuisine here. Because of our ethnic diversity we have food from pretty much every corner of the earth.

Really doubt the US is going away any time soon. She just needs some time to find herself again.